The use of automation to drive tangible business benefits has become a reality today, with nearly all organizations riding the wave of emerging cognitive technologies. The insurance industry is no exception and lies at the crossroads of digital disruption. Traditionally considered as a highly regulated and cautious sector, today it faces a radical shift due to the rising benefits of intelligent technologies.
According to a research, up to 25% of full-time positions in the insurance industry will either be consolidated or reduced in about a decade as a result of the prevalent digital disruption. With such headwinds in the industry, automation can be a game-changer strategy that can help insurance companies increase their profit margins and revolutionize customer experience.